Second charge·Data

Second-charge lending holds at £205.0m in July as 2026 runs 21% ahead

The FLA says growth has slowed since the spring. The three months to July were up 9%, against 25% over the past 12 months.

By Lending Intelligence23 September 2026Updated 17 October 20261 min read

The newsJuly matched June's £205.0m, with deal numbers up 1.4% on the year (FLA).

Why it mattersVolumes are still up on the year, but the FLA expects higher rates to keep demand subdued.

What's nextThe FLA's August figures are expected in late October.

Second-charge new business, £m a monthAug 2024 – Jul 2026 · FLA

Figures as published by the FLA; we treat the latest month as provisional.

The month

Lenders advanced £205.0m of new second-charge business in July 2026 across 3,919 agreements, according to the Finance & Leasing Association. That was level with June by value, and up 2.0% by value and 1.4% by number on July 2025.¹

A year earlier, in July 2025, lenders advanced £201m across 3,863 agreements. The FLA's own headline, "grew by 1%", refers to the number of agreements.^1,2

The trend

In the three months to July, new business totalled £585m, up 9% on a year earlier, across 10,992 agreements, up 3%. Over 12 months the totals were £2,384m, up 25%, and 44,781 agreements, up 17%.¹

From January to July 2026 lenders advanced about £1.4bn, 21% more than the £1.16bn of the same months of 2025. Agreements rose 13% to 25,985.²

Monthly volumes this year have ranged from £175m in May to £228m in March. July's 3,919 agreements were the most since March's 4,129.²

What the FLA said

Fiona Hoyle, the FLA's director of consumer finance & mortgages and inclusion, said the market "continued to grow in July, although at a more modest pace than earlier in the year". She said rates staying higher for longer may keep demand subdued.¹

The Secured Loan Index treats July as provisional: the FLA can revise a month's figures when it publishes the next release.²

What's next

The July figures came out on 23 September 2026. On that timing we expect August's in late October.¹

Sources

1Finance & Leasing Association, “Second charge mortgage new business volumes grew by 1% in July 2026 (23 September 2026)”July 2026 value and number of new agreements, the three-month and 12-month totals and changes, and Fiona Hoyle's comments.
2Secured Loan Index, “The Secured Loan Index: methodology”The monthly FLA series behind derived figures (average loan, year to date), and the Index's practice of treating the latest month as provisional.

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